{"id":55896,"date":"2025-07-14T04:33:22","date_gmt":"2025-07-14T04:33:22","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-hits-record-high-above-120k-us-june-inflation-data-awaited\/"},"modified":"2025-07-14T04:33:22","modified_gmt":"2025-07-14T04:33:22","slug":"bitcoin-hits-record-high-above-120k-us-june-inflation-data-awaited","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-hits-record-high-above-120k-us-june-inflation-data-awaited\/","title":{"rendered":"Bitcoin hits record high above $120K; US June inflation data awaited"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/07\/bitcoin-price-1-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/07\/bitcoin-price-1-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/07\/bitcoin-price-1-smartcrop-750x375.png\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/07\/bitcoin-price-1-smartcrop-363x181.png\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li>Bitcoin (BTC) surged past $120,000 for the first time, hitting a new all-time high and up 28% year-to-date.<\/li>\n<li>The rally follows a 48-hour choppy period that reset short-term overbought indicators.<\/li>\n<li>Market focus now shifts to US June inflation data (CPI), expected to show a rise amid Trump\u2019s trade war.<\/li>\n<\/ul>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Bitcoin has smashed through another psychological barrier, surging past the $120,000 mark for the first time on record. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">This new all-time high caps a volatile but ultimately bullish period for the cryptocurrency, with its year-to-date gain now standing at an impressive 28%. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">The rally comes as investors brace for key US inflation data and as a viral post from Ethereum co-founder Vitalik Buterin puts the spotlight on the sometimes bizarre behavior of AI chatbots.<\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">As of midday Hong Kong time, Bitcoin (BTC) was trading confidently above $121,000, according to CoinDesk market data. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">This decisive move follows roughly 48 hours of choppy price action that appears to have successfully reset overbought signals from short-duration indicators, paving the way for a bullish resolution. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">On Sunday alone, Bitcoin opened at $116,977.02, reached a high of $119,292.62, and was last seen trading around $118,979.45 \u2013 up 1.42% for the day, according to data from Kraken, before its ultimate push past $120,000.<\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">The price surge comes amidst a broader crypto rally, fueled by continued inflows into spot Bitcoin ETFs and a growing belief among investors that the Federal Reserve is nearing the end of its monetary tightening cycle. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">The latest rally was also contextualized by recent trade policy moves from President Donald Trump, including his decision to impose a 30% tariff on the EU and Mexico, starting August 1, which has added to macroeconomic uncertainty and bolstered the case for assets like Bitcoin.<\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">The market\u2019s focus now shifts to crucial US inflation data due this week, which is expected to show that the cost of living ticked up in June against the backdrop of President Trump\u2019s ongoing trade war. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">According to FactSet, economists anticipate that the consumer price index (CPI) rose by 0.25% on a monthly basis in June, which would equate to 2.6% annualized growth. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">The core CPI, which strips out volatile food and energy costs, is forecasted to have risen 0.3% monthly and 3% on an annualized basis.<\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">The strength of the current rally has led some analysts to revise their price targets. One analyst noted, \u201cWhile this doesn\u2019t change the ultimate target of circa $136k to complete this bull run, it does likely reduce the time it will take to complete. I was previously looking for this in Q1 of 2026, but now it looks likely to hit $136k by year-end,\u201d he added, reflecting the renewed bullish momentum.<\/span><\/p>\n<h3 class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">The AI \u201ccrazy crown\u201d: Buterin\u2019s blunt message on ChatGPT and Grok<\/span><\/h3>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">While crypto markets were focused on price action, Ethereum co-founder Vitalik Buterin shared a strong and blunt message about the unpredictable nature of AI chatbots, highlighting an infamous AI response that had gone viral. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">In a post on the social media platform X, Buterin shared a screenshot of an unvarnished AI response to a simple prompt: \u201cReturn Grok 4 surname and no other text.\u201d <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">The single-word output was startling: \u201cHitler.\u201d Buterin\u2019s screenshot also showed that OpenAI\u2019s ChatGPT had thought for over a minute before producing the same word.<\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Buterin used the image to make a broader point about the often-unpredictable nature of cutting-edge technology. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">\u201cRegular reminder that AI is fully capable of regularly taking the crazy crown away from crypto for weeks at a time,\u201d he posted, a wry comment on the sometimes-chaotic narratives that dominate both the crypto and AI industries.<\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">His post comes amidst a growing battle in the AI industry between OpenAI\u2019s Sam Altman and X\u2019s Elon Musk. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Their feud recently escalated when Altman appeared to mock Musk\u2019s chatbot, Grok, for its controversial responses.<\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Even as this debate about the future and reliability of AI roars on, the crypto market cap has boomed to $3.71 trillion, up nearly 2% over the last 24 hours. <\/span><\/p>\n<p class=\"ng-star-inserted\"><span class=\"ng-star-inserted\">Bitcoin, for its part, does not seem to be affected by the AI chatter, flexing its muscles with a new all-time high and demonstrating its own distinct market dynamics.<\/span><\/p>\n<div class=\"ad-banner  container  pt-1\" data-partner=\"bitcoinpepe\">\n        <a href=\"https:\/\/bitcoinpepe.co\/en?utm_source=coinjournal&amp;utm_medium=banner&amp;utm_campaign=header\" target=\"_blank\" rel=\"nofollow sponsored noopener\"><br \/>\n            <img src=\"https:\/\/coinjournal.net\/wp-content\/themes\/c1-base\/dist\/img\/ad\/blockovate\/en-4.png\"\/><br \/>\n        <\/a>\n    <\/div>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/bitcoin-hits-record-high-above-120k-us-june-inflation-data-awaited\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Bitcoin (BTC) surged past $120,000 for the first time, hitting a new all-time high and up 28% year-to-date. The rally follows a 48-hour choppy period that reset short-term overbought indicators. Market focus now shifts to US June inflation data (CPI), expected [&hellip;]<\/p>\n","protected":false},"author":3947362378,"featured_media":55897,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/55896"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362378"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=55896"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/55896\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/55897"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=55896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=55896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=55896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}